Suppose Your Expenses for This Term Are as Follows: Tuition

question 69

Multiple Choice

Suppose your expenses for this term are as follows: tuition: $12,000, room and board: $6,500, books and other educational supplies: $1,500.Further, during the term, you can only work part-time and earn $3,500 instead of your full-time salary of $14,000.What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college?

• A)$13,500
• B)$20,000
• C)$24,000
• D)$30,500

---

Definitions:

Organizational Change

The process through which companies undergo modification of structures, strategies, processes, or behaviors to improve effectiveness.

Organizational Culture

The shared values, beliefs, norms, and practices that shape the social and psychological environment of a business organization, influencing how employees interact and work.

Long-Term Orientation

A cultural or organizational perspective that emphasizes planning and working towards future rewards and outcomes, rather than seeking immediate results.

HR Activities

Functions and tasks undertaken by the human resources department, including recruitment, training, performance management, and compensation.